(a) A custodial trustee, acting in a fiduciary capacity, has all the rights and powers over custodial trust property which an unmarried adult owner has over individually owned property, but a custodial trustee may exercise those rights and powers in a fiduciary capacity only.
(b) This section does not relieve a custodial trustee from liability for a violation of section 529.06.
1990 c 476 s 7
Structure Minnesota Statutes
Chapters 524 - 532 — Probate; Property; Estates; Guardianships; Anatomical Gifts
Chapter 529 — Uniform Custodial Trust Act
Section 529.02 — Custodial Trust; General.
Section 529.03 — Custodial Trustee For Future Payment Or Transfer.
Section 529.04 — Form And Effect Of Receipt And Acceptance By Custodial Trustee, Jurisdiction.
Section 529.05 — Multiple Beneficiaries; Separate Custodial Trusts; Survivorship.
Section 529.06 — General Duties Of Custodial Trustee.
Section 529.07 — General Powers Of Custodial Trustee.
Section 529.08 — Use Of Custodial Trust Property.
Section 529.09 — Determination Of Incapacity; Effect.
Section 529.10 — Exemption Of Third Person From Liability.
Section 529.11 — Liability To Third Person.
Section 529.13 — Expenses, Compensation, And Bond Of Custodial Trustee.
Section 529.15 — Limitations Of Action Against Custodial Trustee.
Section 529.16 — Distribution On Termination.
Section 529.17 — Methods And Forms For Creating Custodial Trusts.